All Forum Posts by: Luke Carl

My cleaners send me email invoices. I cross reference them with my calendars to make sure they're right. One cleaner I send Venmo on the 1st and 15th (5 properties). The other I write a check on the 1st (one property). In my area people are not very technology friendly. Debit cards are modern. Just make it work any way that works for both of you. Make them fill out a W9 for taxes and send them a 1099. Never get too attached because you never know when you'll have to let them go. But treat them with respect especially if you're managing remotely!

Just go on Airbnb and find properties that are similar to what you're looking to rent and obsess over their calendars. Or get yourself an Airdna account and spend way too much time making your brain hurt and never buy anything.

I have always shot for 83% even before I bought my first one and that's the number I've stuck with. I always beat it. I spent about 2 minutes on airdna before I knew I could do better research on my own. Avery has an Airdna account she lets her clients use when the want to obsess. I think it goes nowhere. Just study your neighbors. And ask them questions!

Good luck!  

I do everything remotely on 6 properties with a day job. I use Airbnb & VRBO/Homeaway. I used to get 90% Airbnb but lately VRBO has been coming in big time. I think it's due to all the new marketing they're doing. This varies by location and also varies by the manager. Some people function better with one rather than the other and vice versa.

So to answer your question... Just get a decent iPhone and do it yourself from your phone. It's very easy especially if you only have one or two. If I can do it anyone can believe me. 

Just read through every post on this forum all of these question will be answered and then you'll have more questions! Funny thing about this forum is it's really just a family of about 10 people that are dumb enough to do this and then the ocasional folks who are interested in dipping their toe in the pool. Welcome! Here if you need us :) 

When in doubt.... pay extra! 

Although I must say I'd give the floors a second thought. They are still renters after all. A really nice indestructible fake floor might be better. 

John Underwood I’ve heard from many CPAs including Brandon Hall that under 7 days takes precedence over maid service/entire house etc. I guess this leads me to the question.... what are the benefits of E vs C and C vs E?

Paul Sandhu is right as always. Aaron Quinton in my market if you don’t self manage you lose money. PMs charge 40% plus high fees for repairs etc. If you self manage you can do awesome. Obviously instantly increasing the bottom line by 40%. Although it’s not for everyone I do find it easy. I self manage 5 and have a w2 gig.

John Underwood I’m not Brandon Hall but your vacation rental income is Schedule C unless you have a 7 night minimum (or more than 7 night average stay for the year). Or so I’ve been told 20 times.

Paul Sandhu is my hero.... but my cabins have nicer appliances and furniture than the house I live in. No one is reviewing the house I live in for the world to see. I’d ask yourself why you want to do this. It’s way more work. And they could take it away from you at any moment. And even when things are good you have to deal with people leaving you 4 star reviews because they “made a mistake and hit the wrong button” which happened to me today and ruined my day for about an hour. I use my vacation rentals to raise money to buy long term rentals so I don’t have to deal with the drama. BUT it’s pretty fun sometimes too. My best suggestion.... don’t buy next to people that live in the house. Especially older people. It’s not fair to residents to have different randoms in and out very two days being drunk loud and clueless. Mine are in an all tourism are. My neighbors all come and go every two nights also. Harmony. Good luck let us know how it goes!

@Megan Davidson I don't like most people yet I have hundreds of 5 star reviews and maintain super host status.

Another way to get 5 star reviews is to like 5 star reviews :) 

Ok so I like some people. Just trying to make a point.